Thursday, 14 August 2014

How to build self-confidence in the face of risk

Adults living in industrialized countries spend more than 300 hours per
year watching news on television, listening to commentators on the
radio, and reading newspapers. That time exceeds what they devote to
reading books or acquiring knowledge in any other way.

The
greatest part of the information that is absorbed during those hours
consists of catastrophes, disruptions, violence, poverty, divorce,
vengeance, dishonesty, criminality, incompetence, hostility, complaints,
abuse, and decay.

In view of the messages that fill the airwaves
and newspapers, it is no wonder that many people suffer from anxiety or
depression. If a man is convinced that the overall situation is
deteriorating and that he is doomed, he won't be motivated to improve
his life.

Should reporters be blamed for the negative bias given
to daily news? Is it not true that those are the sort of reports that
people want to read? If television news focus on negative events, are
they not responding to their audience? If debates on talk radio are
conducted in a harsh tone, it is not because this is what listeners
want?

The media deliver negative news to those who are thirsty
for them. Depressing television programmes confirm the views of those
who believe that man cannot improve his lot. Bitter discussions on
talk-radio reinforce the listeners' conviction that life consists
primarily of conflict.

Dispiriting messages attain their targets
with the precision of a laser. No discouraging word is wasted and no
gloomy prediction remains ignored. The machine that destroys hope and
inspiration works with outstanding efficiency.

Those who love
dire forecasts expect to find them in the media. Those who want to hear
about poverty and dereliction want television stations to cover those
subjects. Those who believe that the next crisis is going to destroy the
world expect their favourite talk-radio host to share that view.

Nevertheless,
despite the massive barrage of depressing messages, other individuals
remain unaffected by anxiety and depression. Instead of seeking out
alarming news, these persons read newspapers sparingly. Instead of
watching calamities on television, they prefer to devote their energies
to improving their own lives.

How did this minority arrive at
their independent thinking? What is the key behind their psychological stability? How can we protect our serenity against the negative bias of
daily news? The following ideas can help you preserve your peace of
mind:

[1] Transform risks into numbers

Most reported threats
refer to events that, most likely, will never happen. For instance,
every few years, newspapers discuss anew the possibility of an asteroid
hitting the earth and killing millions of people.

Such calamity
would be terrible, but you should not allow vague menaces to disrupt
your tranquillity. Instead of losing sleep over risks, you should
transform them into numbers or percentages. What are the actual chances
of an asteroid hitting the town where you live? If the result of the
calculation is one in a million, how much are you willing to worry?

[2]
Set a limit on damages

Companies operating in consumer markets
inevitably incur risks of civil liability. If you deliver products to
millions of people, an accident will occur sooner or later, for example
due to the failure of an electrical component.

No one is exempt
from occasional mistakes and this is why liability insurance exists.
Entrepreneurs who wish to limit their risks can purchase insurance
coverage so that, if the worst happens, their financial losses will be
limited.

Similarly, if you live in an area with a high risk of
floods, you should insure yourself against damages caused by water. The
rational approach to dealing with potential catastrophes is to reduce
risks. By setting a limit to damages, you can protect your peace of mind
against gloomy forecasts aired by the media.

When commentators
predict a stock market crash, you can protect yourself by converting
part of your investments to cash or by purchasing other assets, such as
gold or real estate, whose performance is not correlated to the price of
shares. In general, if you set a cap on potential losses, you will be
able to stop worrying about catastrophes.[3] Face problems by taking action:

Uncertainty, more than any other factor, is what causes
anxiety and fear. The feeling of not knowing what to do can render you
insecure and lead you to make mistakes. Indecision causes physical
tiredness and disrupts sleep at night. The solution is not to ignore
risks, but to face them by taking action.

If your neighbourhood
is becoming increasingly dangerous, you can choose between taking action
or worrying yourself to death. Assess the problem and see what
alternatives you have. Should you install an alarm system at home? Does
the situation justify that you move to another part of town?

As
soon as you make a decision, your preoccupation levels will diminish.
People who lead serene lives tend to be incredibly proactive and
organized. Those persons are always the first to adopt measures to
prevent problems.

This is a key
factor for maintaining your peace of mind. Why would you want to read
gloomy articles in newspapers and magazines? What's the point of
devoting your time to watching depressing reports on television?

Negative
information is highly addictive and, without a strong will, the habit
is difficult to break. You have to make a firm decision and stop paying
attention to distorted news. You have to make the effort to filter out
the noise and focus on quality information.

In most cases, you
can keep yourself well informed by spending a few minutes a day on a few
selected websites. If you make yourself deaf to nonsense and
discouragement, you will have more time for pursuing your primary
objectives.

Protect your peace of mind against negative news by
transforming risks into numbers, setting limits to damages, facing
problems with action, and using only quality information. Every minute
of anxiety that you eliminate from your life will add positively to your
well-being.For more information about rational living and personal development, I refer you to by books. [Text: http://johnvespasian.blogspot.com]

[Image by mape_s under Creative Commons Attribution License. See the license terms under http://creativecommons.org/licenses/by/3.0/us]

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ABOUT THE AUTHOR

JOHN VESPASIAN is the author of eight books about rational living, including "When Everything Fails, Try This" (2009), "Rationality Is the Way to Happiness" (2009), "The Philosophy of Builders: How to Build a Great Future with the Pieces from Your Past" (2010), "The 10 Principles of Rational Living" (2012), "Rational Living, Rational Working: How to Make Winning Moves When Things Are Falling Apart" (2013), "Consistency: The Key to Permanent Stress Relief" (2014), "On Becoming Unbreakable: How Normal People Become Extraordinarily Self-Confident" (2015), and "Thriving in difficult times: Twelve lessons from Ancient Greece to improve your life today" (2016).